Stock in Focus: Puregold Price Club (PGOLD)

With Puregold Price Club’s (stock symbol: PGOLD) low of 36 carved out last December 18, we may have seen a short-term bottom (a double bottom in this chart) in place. This will be validated further if price breaks above 40 soon.

Puregold Daily chart, January 8, 2014

If you draw a downsloping trendline connecting the November highs, you would notice that price broke through it on Monday. We shall see in the next couple of days whether this trendline would keep a tight leash on price or not.

The Detrended Price Oscillator (DPO) has remained above the zero level even before January started. Bullish bias is on as long as price is above this level.